NFLX , a recovery theme leadership name . Not a short .Usually I only post on stuff I'm buying but I wanted to do a quick take on NFLX since I personally have seen quite a few bearish posts and chatter on it and I find that interesting since for me its one of the best names out of the large cap stocks right now and personally I think that shorting the leader is probably not a good course of action .
NFLX is actually not something I am allowed to trade, I only trade GLB names and ETF's that represent strong leading groups, at least at this time . BUT , NFLX was already in a stage two uptrend on Oct 22nd 2022 , currently NVDA is also in a stage 2 uptrend which only just happened but PYPL, GOOG, MSFT, AAPL, META, AMZN and TSLA are all either in Stage 1 or stage 4 and most of them in stage one could probably still be looked at by many as stage 4 still .
I see that technically NFLX did just break above its upper channel which 75% of the time is followed up by a fall after back to the lower channel trendline , so perhaps we may see this and there could be a reasonable short set up there but why ?
fact of the matter is that even if NFLX does revisit the channels lower trend line , even there, its still in a stage 2 , its also still way outperforming all the other large cap names mentioned .
Just my two cents , I'm wrong all the time but I am not wrong about NFLX being in a stage two on its daily ;)
